Living in a High Rise Building (Apartment)

High-rise residential units seems to be a popular mode of choice for generations nowadays, especially in a big city. Lack of land and high prices play a big role in the development of high-rise buildings. Although high residential home has its advantages compared to land, you must be aware of the good and bad things that come with it.

High Rise Building in the Big City

Multiple Billing and Payment

Commitment to various types of payments and bills during his stay in residential high-rise may not be so clear. Here are some types of fees that you need to know.

maintenance fee

For properties such as high-rise condominiums, monthly maintenance fees and sinking fund is used to finance the maintenance, repair and upgrading of the building process. Maintenance fees are typically higher for older properties due to the facility to be repaired more often. Also, maintenance fees increased in line with current requirements. If you rent out your property to someone else, you have a duty as the host to explain the maintenance bills.

Parking fees

If you have several cars, you may not have enough parking lot. You can choose whether to rent or buy additional units to accommodate the number of cars you own.

Commercial rates

Many serviced residences are built on commercial land, which equates to commercial billing of water and electricity bills. It can add up to more than double of what you would pay for a residential unit. So think twice if being on top of a shopping mall is worth the premium.

Commercial Land

Ease of Life

Landed residential units are usually not equipped with a swimming pool, gymnasium, cafeteria and so on (the house is too fancy excluded). Generally, the more features, the higher the comfort and activities that can be enjoyed by the residents. One advantage to living in high-rise residential.

Comfort Living

There are various factors that affect the comfort of living in high-rise residential. Let's see some of them below:

1. A compact condominiums can cause jams to inhabitants. The overall experience may be less pleasant due to the very slow elevator, small parking lots, and traffic congestion.
2. Do you like calm and peaceful environment? You may prefer a higher unit or units not facing the pool to avoid the noise.
3. Is the environment safe? If you often hear about robberies and thefts around the area, you might want to consider taking another area.
4. Consider the entire surrounding community. Your neighbors, school students, families, foreign workers or others? Community in the building is an ecosystem in a high-rise residential area. 

Increase in Value

For real estate investors, the rate of increase plays a major factor. The increase for high-rise buildings is determined by the ease, convenience, access, tax, the future development in the vicinity of the property, as well as demand and supply. The driving force behind the increase in the value of high-rise units should be identified. If not, you risk burning a hole in your pocket.

conclusion

Taking into account all these factors, you should have good judgment and make compromises to get the appropriate unit. Differences houses and high-rise residential land may be significant, but it really depends on the individual. So, use a mortgage comparison tool to weigh the good and bad before making a decision.